To view the PDF file, sign up for a MySharenet subscription.

FIRESTONE ENERGY LIMITED - Takeover Offer Announced by Range River Gold Limited. Shareholders should take no action

Release Date: 30/01/2013 14:33
Code(s): FSE     PDF:  
Wrap Text
Takeover Offer Announced by Range River Gold Limited. Shareholders should take no action

                                                                                       About Firestone Energy
FIRESTONE ENERGY LIMITED
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE  
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
                                                                                       Firestone Energy Limited is an
   
30 January 2013
                                                                                       independent, Australian exploration and
                                                                                       development company listed on the
                                                                                       Australian Stock Exchange Ltd (ASX) and
           Takeover Offer Announced by Range River Gold Limited                        the Johannesburg Stock Exchange (JSE).
                                                                                       Firestone Energy has entered into a Joint
                                                                                       Venture with Sekoko Resources (Pty) Ltd
                   SHAREHOLDERS SHOULD TAKE NO ACTION
                                                                                       through which Firestone Energy has
                                                                                       acquired the right to 60% participation
With reference to the Announcement relating to the takeover offer from Range           interests in the Waterberg Coal Project
River Gold Limited referred to in the SENS announcement on 18 December 2012.           located in Lephalale area, Limpopo Province,
The Board of Firestone Energy Limited (ASX/JSE: FSE) (the “Company” or                 South Africa.
“Firestone”) advises that on 30 January 2013, the board received a formal Bidders
Statement from Range River Gold Limited.                                               The first stage of the project is to develop the
                                                                                       Smitspan mine which has a substantial
Range River Gold Limited (ASX: RNG) (“Range River”) announced to the ASX an            measured thermal coal resource and to
                                                                                       develop the Vetleegte mine which is a
unsolicited, conditional proposal to acquire all of the ordinary shares in Firestone
                                                                                       substantial metallurgical coal deposit.
by way of an off market takeover offer (the “Range River Offer”). Interested
shareholders are referred to the Range River website or www.asx.com.au where           Firestone Energy is committed to becoming a
they can obtain the full offer.                                                        profitable independent coal and energy
                                                                                       producer at its projects in South Africa,
In summary, under the Range River Offer Firestone shareholders will be offered         thereby making a substantial contribution to
one (1) Range River share for every two (2) Firestone shares.                          the social and economic development of the
                                                                                       Lephalale area and South Africa.
The Board is unanimous in its view that Firestone shareholders should take no          Corporate Details
action and not make any decision in relation to their shareholding in the                                                   ASX: FSE
Company until the Board has reviewed and has had an opportunity to consider                                                 JSE: FSE
the Range River Offer. Following careful consideration of the Range River Offer,                                       Issued Capital:
the Board will determine and advise Firestone shareholders of its                                       3,114 million ordinary shares
recommendation.
                                                                                                                Major Shareholders:
                                                                                                         Sekoko Resources (Pty) Ltd
The Range River Offer will not open for acceptance until its Bidder’s Statement is                                   Linc Energy Ltd
                                                                                                             BBY Nominees Pty Ltd
despatched to Firestone shareholders and must remain open for at least one                                 Bell Potter Nominees Ltd
month.
                                                                                                             Directors and Officers
The Board’s focus will be on maximising value for shareholders and the Range                             Non Executive Directors:
River Offer will be considered in that context. The Board will keep shareholders                         Mr Tim Tebeila (Chairman)
informed of any further developments and will provide updates to the market as                     David Perkins (Deputy Chairman)
                                                                                                                    Dr Pius Kasolo
appropriate. The Company has retained Kelly & Co. Lawyers as its legal adviser                                      Ben Mphahlele
and BBY Limited as its corporate adviser in relation to this matter.                                              Kobus Terblanche

                                                                                                                        Officers:
                                                                                                              Mr David Knox CEO
David Knox                                                                                                Ms Amanda Matthee CFO
Chief Executive Officer                                                                         Mr Jerry Monzu Company Secretary
www.firestoneenergy.com.au
Tel: Australia (+61 08 9287 4600)                                                                                          Contact:
     South Africa (+27 11 706 3548)                                                                    Suite B9, 431 Roberts Road
                                                                                                  Subiaco, Western Australia 6008
Johannesburg                                                                                               Tel: +61 (08) 9287 4600
                                                                                                 Web: www.firestoneenergy.com.au
30 January 2013

Sponsor

RiverGroup

Date: 30/01/2013 02:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story